Grayscale gathers $217 million after their television AD campaign which was launched a week ago in a single biggest fundraising up to date as we are reading further in the cryptocurrency news today.
Grayscale gathers more than $217 million in a single week in the digital asset trust investments and purchased huge amounts of crypto assets such as Ethereum and Bitcoin so far in 2020. The recent TV advertising campaign is expected to bring more investors as the company had a blockbuster week after the campaign. The CEO Barry Silbert tweeted that the company took $217 million this week which was the most raised in a single week.
Big ad for bitcoin in the FT today from Galaxy Digital. Love it pic.twitter.com/ro05QdvDFf
— Barry Silbert (@barrysilbert) August 13, 2020
The blowout came after Grayscale started broadcasting the TV ads tracking the evolution of money until the age of digital currency and one day after the rival crypto investment company Galaxy Digital published a new full-page AD in the Financial Times saying:
“Now is the time to invest in Bitcoin.”
Grayscale’s success is proof that the race to get the new crypto investors on board is on as it was being pushed into new territory by Grayscale and its competitors. The ads took spots on major TV channels such as Fox, Fox Business, CNBC, MSNBC. Grayscale was founded in 2013 by VC firm Digital Currency Group to help the institutional investors get into crypto with trust in BTC and ETH.
— Grayscale (@Grayscale) August 10, 2020
The biggest driver for the growth this year was Ethereum. The company bought up about half of all Ethereum minted during the parts of the first half of the year. During the call with investors last month, Grayscale disclosed that about $375 million entered the ETH fund since it opened 2018. About 36% of the inflows took place in the second quarter of 2019 as with the reports saying that overall investment inflows of about $900 million in the second quarter. Silbert said the investors were cautiously optimistic that the US had gone beyond the point of using a ban on BTC saying the number of digital currency supporters in the government.
One of the biggest crypto asset management companies in the world, Grayscale launches an ambitious advertisement campaign on national television within the United States. First announced last week by the Company’s CEO Barry Silbert, the ad campaign represents the company’s efforts to legitimize the crypto industry and to attract more users to the platform.
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